DSV moves into Middle East market with takeover of Dubai company
DSV Air & Sea Holding, part of Danish freight forwarder and logistics group DSV, has made its first investment in the Middle East by acquiring 100 percent of the shares of Dubai-based Active Freight Management LCC. Financial details were not disclosed.
Active Freight was DSV's cooperation partner in Dubai prior to the acquisition. The company has a budgeted turnover of DKK 40 million ($7.2 million) in 2007 and employs 12 people. As a result of the takeover, Active Freight will soon be known as DSV Air & Sea LCC.